Barclays Assumes Phillips 66 Partners LP to Equal-weight

Brokerage firm Barclays Assumes its rating on Phillips 66 Partners LP(NYSE:PSXP). The shares have been rated Equal-weight. The rating by Barclays was issued on Apr 12, 2016.

In a different note, On Mar 15, 2016, JP Morgan said it Maintains its rating on Phillips 66 Partners LP. In the research note, the firm Lowers the price-target to $83.00 per share. The shares have been rated ‘Overweight’ by the firm. Morgan Stanley said it Initiates Coverage on Phillips 66 Partners LP, according to a research note issued on Feb 25, 2016. The shares have been rated ‘Overweight’ by the firm.

Phillips 66 Partners LP (PSXP) shares turned negative on Fridays trading session with the shares closing down -2.13 points or -3.51% at a volume of 13,51,024. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $61.72. The peak price level was also seen at $61.72 while the days lowest was $58.45. Finally the shares closed at $58.49. The 52-week high of the shares is $76.95 while the 52-week low is $40. According to the latest information available, the market cap of the company is $4,825 M.

Phillips 66 Partners LP(PSXP) last announced its earnings results on Jan 29, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $102.80M. Analysts had an estimated revenue of $94.83M. Earnings per share were $0.61. Analysts had estimated an EPS of $0.54.

Phillips 66 Partners LP owns operates develops and acquires fee-based crude oil refined petroleum product and natural gas liquids (NGL) pipelines terminals and other transportation and midstream assets. The Company’s assets consist of crude oil and refined petroleum product pipeline terminal rail rack and storage systems in the Central Gulf Coast Atlantic Basin and Western regions of the United States. Its assets also consists of systems which include Clifton Ridge Crude System Sweeny to Pasadena Products System Hartford Connector Products System Gold Line Products System Medford Spheres Bayway Rail Rack Ferndale Rail Rack Cross-Channel Connector Project Palermo Rail Terminal Project and Eagle Ford Gathering System Project. Phillips 66 through Phillips 66 Company owns 20938498 common units and 35217112 subordinated units representing an aggregate 73.3% limited partner interest and a 100% interest in Phillips 66 Partners GP LLC (the Company’s General Partner).

Leave a Reply

Phillips 66 Partners LP - Is it time to Sell?

Top Brokerage Firms are advising their investors on Phillips 66 Partners LP. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.